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SS&C Technologies Inc. (NASDAQ: SSNC), founded in 1986, is a global provider of software products and software-enabled services that focus primarily on the financial services and healthcare sectors. Headquartered in Windsor, Connecticut, SS&C operates worldwide, offering solutions that encompass account administration, asset valuation, compliance processing, data gathering, investment accounting, performance measurement, and regulatory reporting.
The company caters to a diverse clientele, including asset managers, banks, financial advisors, insurance companies, real estate investment trusts (REITs), and alternative investment firms. SS&C's offerings are tailored to meet the specific needs of each industry, ensuring operational excellence and compliance with regulatory requirements. By leveraging state-of-the-art technology, SS&C helps its clients manage and account for investments totaling over $44 trillion.
SS&C's product suite includes SS&C GlobeOp, which provides fund administration services to alternative and traditional asset managers, and Intralinks, a leading provider of Virtual Data Room solutions. The acquisition of DST Systems in 2018 expanded SS&C's footprint into the healthcare sector, adding pharmacy health management solutions and medical claim administration services to its portfolio. More recently, in 2022, SS&C acquired Blue Prism, further enhancing its intelligent automation capabilities.
SS&C's latest strategic moves include a partnership with Regnology to deliver an integrated risk and regulatory reporting solution designed to streamline compliance and analytical insights. This collaboration aims to help financial institutions adapt swiftly to regulatory changes, enhancing their operational efficiency.
Financially, SS&C has demonstrated robust performance, with record adjusted revenue and consolidated EBITDA for the full year 2023. The company generated over $1.2 billion in operating cash flow and maintains a strong cash position with a net leverage ratio of 3.05 times consolidated EBITDA. Despite global economic uncertainties, SS&C continues to see opportunities in both the financial services and healthcare markets, driven by strategic acquisitions and partnerships.
SS&C is also enhancing its global reach, recently receiving regulatory approval to expand its fund administration services in the Abu Dhabi Global Market. This move reinforces SS&C's commitment to providing comprehensive financial technology solutions across different regions and markets.
SS&C Technologies announced a quarterly dividend of $0.14 per share, aligned with its dividend policy. This payout is scheduled for December 15, 2020, to stockholders on record as of December 1, 2020. The company's consistent dividend commitment reflects confidence in its financial stability, catering to over 18,000 clients across financial services and healthcare sectors.
On November 17, 2020, SS&C Technologies (Nasdaq: SSNC) announced significant updates to its SS&C Advent solutions, enhancing user experience and operational workflows. Key releases include:
- Advent Outsourcing Services with improved visibility of operational workflows.
- Advent Portfolio Exchange featuring streamlined portfolio management.
- Advent Revenue Center reducing processing times by up to 80%.
- Geneva introducing real-time data updates and machine learning enhancements.
These innovations aim to position clients advantageously in market opportunities.
SS&C Technologies (Nasdaq: SSNC) announced its speaker lineup for the Alternative Investments Global Virtual Summit 2020 on December 10, 2020. The event will feature industry leaders including David M. Rubenstein, Orlando Bravo, and Sam Zell, moderated by Steve Leisman from CNBC. Participants can engage in discussions covering key topics such as private equity strategies, fundraising, due diligence, and ESG. The summit is expected to attract approximately 4,000 professionals globally, enhancing networking among investment professionals.
SS&C Technologies (Nasdaq: SSNC) announced that Rahul Kanwar, President and COO, will speak at Citi's 2020 Virtual Financial Technology Conference on November 16, 2020, at 10:30 am ET. The presentation will focus on the company’s innovative software and services for the financial and healthcare sectors. A webcast of the event will be available on SS&C's investor relations website.
Founded in 1986 and headquartered in Windsor, Connecticut, SS&C supports over 18,000 organizations, catering to various market needs globally.
RiverNorth Opportunities Fund, Inc. (NYSE: RIV) has successfully completed its rights offering, issuing 575,706 new common shares. The offering, which closed on November 6, 2020, generated approximately $8.1 million in gross proceeds at a subscription price of $14.08 per share. As of September 30, 2020, the Fund had $140.3 million in net assets and 9.4 million shares outstanding. The Fund's goal is total return through capital appreciation and current income, with investors advised to review associated risks and fees before investing.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced that its cloud-based investment management platform, Eze Eclipse, has acquired over 150 clients. The platform has witnessed a significant boost, more than doubling its client base among hedge funds and asset managers in the past year, maintaining a 100% client retention rate. Recent enhancements include faster trade entry and a mobile app for investment activities. Ennio Carboni has been appointed to lead product and engineering for Eclipse, bringing experience from VMWare.
RiverNorth Opportunities Fund (NYSE: RIV) announced preliminary results of its rights offering, which expired on November 6, 2020. The fund received subscriptions for 575,813 shares, anticipating gross proceeds of approximately $8.1 million. The final subscription price was set at $14.08 per share, slightly below the initial estimate of $14.18. Excess payments from rights holders will be returned promptly. The fund's net assets stood at about $140.3 million as of September 30, 2020.
SS&C Technologies Holdings announced the integration of its cloud-based Precision LM software by National Western Life Insurance Company for enhanced commercial loan servicing operations. This partnership aims to support bespoke loan terms and provide critical portfolio analytics. National Western Life's Mortgage Loan Manager expressed confidence in SS&C's expertise, anticipating improved reporting and overall lending experiences over the next five years. SS&C is a preferred partner for over 50% of the top 40 life insurance companies investing in commercial mortgages.
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